Jobs lost to outsourcing can be partially offset by jobs gained from
A) increased output from another industry. B) greater trade imbalances.
C) higher opportunity costs. D) higher production costs.
A
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Refer to Figure 9.5. If the government establishes a price floor of $2.50, how many pounds of berries will be sold?
A) 200 B) 300 C) 400 D) 600 E) 800
The rational expectations hypothesis implies that discretionary macropolicy may be
a. relatively effective in both the short run and long run. b. relatively effective in the short run but ineffective in the long run. c. relatively ineffective both in the short run and long run. d. effective in the long run since decision makers will continually make predictable, systematic errors.
When markets fail, public policy can
a. do nothing to improve the situation. b. potentially remedy the problem and increase economic efficiency. c. always remedy the problem and increase economic efficiency. d. in theory, remedy the problem, but in practice, public policy has proven to be ineffective.
An open market operation is? ______.
A. the purchase or sale of U.S. dollars in the foreign exchange market by the Federal Reserve System B. the depositing of U.S. dollars in commercial banks by the Federal Reserve System C. the purchase or sale of government securities by the Federal Reserve System in the open market D. any transaction conducted by the Federal Reserve System in a transparent and open manner